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CNN
Dec 29, 2012 4:00am PST
president and congress to make a deal and avoid those automatic tax hikes and spending cuts. obama met with top leaders from the both sides of the aisle in a rare meeting that lasted over an hour. afterward, he spoke about the importance of the deal for the u.s.'s still recovering economy. >> economists, business leaders, all think we're poised to grow in 2013. as long as politics in washington don't get in the way of america's progress. so we've got to get this done. >> senate minority leader mitch mcconnell also spoke after their meeting expressing home that the weekend would bring a deal. >> we are engaged in discussions, the majority leader and myself and the white house in the hopes that we can come forward as early as sunday and have a recommendation i can make to my conference and the majority leader can make to his conference. and we'll be working hard to try to see if we can get there in the next 24 hours. i'm hopeful and optimistic. >> we're watching that story closely. >>> protesters demanding justice for the young woman who has died now after she was brutally beaten and
CNN
Dec 29, 2012 10:00am PST
conversation and dealing with spending restraint. that's why obama does what he does. >> the reason i doubt that, grover, is because we've all done the math and we all absolutely agree on the math that you can't get out of the deficit hole we're in by taxing rich people, even if you tax them at 100%. everybody knows that. when republicans say we don't have a tax problem, we have a spending problem, the fact is we've got both and we can deal with that. let me ask you this. you gave your bletszing ing bl proposal that john boehner put forward. so many congressional republicans are scared of voting for something that feels like, looks like, smells like a tax increase because they're worried your organization will come back to haunt them because you signed a pledge. you gave your blessing and they still couldn't get the votes on the floor. what's up with that? why did that not happen? a week ago i was hopeful we might have a deal. >> okay. because the pledge is not to me. it's to the american people. it's to the people of the state that any congressman or senator is from. they have to feel that
CNN
Dec 31, 2012 1:00pm PST
spending cuts. that angered republicans. obama's comments angered republicans. so i think they're back in the negotiating room, republicans pushing harder on the spending cuts side. that's what we've seen through the the day. >> ali, based on my years of covering washington, the longer there's no final vote in the senate and house, the more likely this whole thing could collapse. >> yeah. gives everybody a chance to think it through. this is kind of the contradiction in this whole thing. when you think back to the debt ceiling deal, you think back to the government shutdown. these are all eleventh hour deals. we've become accustomed to doing things before the deadline. there's some sense of urgency. what you've heard throughout the day is we don't like that the white house, that they're moving toward a higher threshold on taxes. the longer it doesn't get done, the more people say let's take a harder line yet. i like you wolf, we're going to sit here until it happens. i'm not sure it's going to happen. there are still some remarkable philosophical differences. a great deal of misinforma
CNN
Dec 27, 2012 9:00am PST
. >> richard please keep us posted. appreciate it. >>> it is back to work for president obama. he's cutting his vacation short. time is running out to avoid the big tax increases, the spending cuts that everybody is asking can we make a deal. [ female announcer ] almost nothing can dampen a baby's mood, when he wakes up dry in pampers. unlike other diapers, pampers has 3 absorbent layers, for up to 12 hours of protection overnight, and more beautiful mornings. ♪ pampers. peaceful nights. playful days. ♪ you make me happy when skies are gray ♪ [ female announcer ] you know exactly what it takes to make them feel better. ♪ you make me happy [ female announcer ] that's why you choose children's tylenol. the same brand your mom trusted for you when you were young. ♪ how much i love you [ humming ] [ female announcer ] children's tylenol, the #1 brand of pain and fever relief recommended by pediatricians and used by moms cade after decade. [ humming ] >>> we're just five days away from the tax hikes, the spending cuts known as the fiscal cliff, but we are four days away from an
CNN
Dec 31, 2012 4:00am PST
and the continuing resolution, where they can dole out money slowly to obama and the democrats to spend while reining is in. >> i'm not sure how effectively they use it. 517 days ago and that's why we're in the mess we are in. >> i want to show you marginal tax rates around the world. highest tax rate people pay on the marginal money they earn. when we talk about increasing taxes, we talk about increasing it above a threshold. the united states is not the highest on the list. the united kingdom is on this list and this isn't all the countries out there. both canada and germany have higher marginal tax rates than the yits does. germany and canada have borrowing rates about the same as the united states and have higher home ownership rates. they have health care and education paid for. great life satisfaction in those places and strong economies. what's the argument if we increase the tax rates on the richest americans, we're somehow going to have economic catastrophe. >> ali, as you know when people pay taxes, they not only pay it at the individual level, but capital gains and othe
CNN
Dec 30, 2012 4:00pm PST
spending. i listened to the gentleman who said president obama won the election so he should get his way, but the republicans say, look, we won the house. i do want to see a deal done. and by the way, i don't want to see taxes go up, ali. you know that. i think it's bad for the economy -- >> but you also generally agree if there was going to be a deal, they're going to go up on some people. >> yeah. look, taxes are probably going to go up on the rich because president obama did -- you know, he went around the country saying if he was re-elected, that's what he would do. but, you know, as i told you many times, even if we don't get a deal here in the next 24 hours, this is not thelma and louise. this is a slope, not a cliff that's going to cause a crash in the economy. i do think it looks bad for the country. it's beneath us to go into this new year not knowing what the tax code is going to look like, what kind of spending cuts will go in. this is politics at its very lowest. >> let's talk about a week ago one of the things that you and i both thought shall i thought it was a bit cyni
CNN
Dec 26, 2012 7:00pm PST
price. >> they could have had a more popular message about cutting deficit spending, right? >> the truth is they would have been a lot better off taking the deal that boehner was negotiating with president obama way back when. it was a better deal all the way around. they missed that moment. but i think the real thing is who pays the price. the people who are going to pay the price are the americans, the middle class. this is crazy. it's nuts to be putting us through this. >> all of the focus on tax cuts. but the revenue from increasing the taxes on the wealthy will barely make a debt in the deficit to say nothing of the trillions in debt we're talking about. is this just a symbolic fight this the president is determined to win off his election? >> it's not symbolic. there will be money raised if the taxes are left to expire. but let me just bring up a point. no democrat and certainly not this president has said there should be no spending cuts. on the contrary this president has put on the table an extraordinary amount of spending cuts to the chagrin of many democrats i might add.
CNN
Dec 28, 2012 1:00pm PST
. right now, the leaders of the house and senate are sitting down with president obama in a search for an 11th hour deal to prevent severe tax hikes and spending cuts from automatically kicking in with the new year. cnn's chief white house correspondent jessica yellin is getting new details. jess can ka, what are you hearing about that meeting? >> reporter: candy, the president is going to explain or reiterate the position he took on friday, that he would like a plan that extends tax rates for people who make $250,000 and below but raises them for those who make more than that. that it extends unemployment benefits for americans. and if the president, i'm told will say if he does not get an agreement to that plan, he will ask the other leaders what they can agree to, what what they would like instead. if they cannot come up with a proposal that will pass the house and the senate, will ask for a vote on his measure. but that meeting, candy, is still going on. congre congressional leaders arrived at the white house for a last-ditch meeting just days before a new year's deadline. back on
CNN
Dec 23, 2012 6:00pm PST
lousy presidents. >> why have you been so consistently supportive of obama? >> i can't even imagine thinking about what would happen to the supreme court if a republican were the president. you know? i mean, citizens united is a horrible thing people can spend and waste this amount of money on elections? think of the people that could benefit from that money. >> there have been two elections since i have been in america. two elections where one party has had far more financial firepower. one was with meg whitman and one was with romney. the most money lost. what does that tell you? >> the people are getting smarter. they're going, i don't like this amount of money spent on this election. there should be a given -- campaign finance reform is very important. i hope somebody does something about it. you should have a given amount, equal amount, equal air time. that's it. you know? that idea of corporations being people, no, no. this is a country of, by and for the people. not of, by and for the corporation. you know? it's like because i'm so against gmos, the modified food and i'm so a
CNN
Jan 1, 2013 4:00am PST
" says it weakens president obama's hand going forward and may hurt him in the debt ceiling negotiations. he has ruled out any negotiations over the debt ceiling and on monday he vowed that revenue increases must match further spending cuts. but as this deal shows, he often compromises at the last minute. that's the important part. let's leave it there. has president obama showed when his back support against the wall, he will cave? >> the president has been very strong in these negotiations. you have to keep in mind the republicans really did not want to tax more wealthy people in our society one dime. not a dime, and he's stuck with that. i consider myself a liberal and proud of it. we did not want an increase in t the age with regard to medicaid and cpi with regard to social security benefits. and the president was strong there, and i think he'll continue to be strong, and, you know, i notice a different president since he won this election, i think he is working very closely with congress, and, again, i -- often i'm -- i'm critical for congress for not coming to the tabl
CNN
Dec 26, 2012 1:00pm PST
avoid the drastic tax hikes and spending cuts that many fear will plunge the economy back into recession. president obama flies back from hawaii tonight to be ready if the senate comes back with a plan when it returns to work tomorrow. and house leaders are huddling with members on stand-by to return. senior congressional correspondent dana bash is following all of it for us. what are you hearing? >> there was a conference call of course members of the house leadership even, they're back in their districts, but there was a conference call today among those house republican leaders trying to figure out if and when the house should come back into session. two republican sources tell me they did not make a decision on this call. it's still up in the air. and a big reason for that is if anything can get done in the next six days, the ball is in the senate's court. the capitol is a ghost town. neither chamber in session. an eerie calm since the fiscal cliff only congress has the power to avert is less than one week away. from their home, senate democratic leaders is trying to figure
CNN
Dec 25, 2012 8:00am PST
because of the church's recent designation as a u.n. world heritage site. the obama family celebrated the president's birth place in hawaii and, yes, christmas brings us one day closer to possibly the fiscal cliff, the huge tax increases, spending cuts that could take effect in one week or so. brianna keeler is watching there in hawaii, joining us with the update. first of all, how is the president, how is the first family spending the holiday? >> presumably right now they are sleeping in, suzanne, because it is still very early here as you know. >> what time is it? >> we are expecting of course they'll have a christmas. let's see. 6:00 in the morning bright and early. we've been at it for a few hours. we expect them to have a nice christmas meal at the house they're renting. the white house chef is here. maybe we'll get details on what they are going to eat. there is nothing on the president's public schedule. he is frequently gone and visiting with troops in the past so we wouldn't be surprised if he did that again today. i will tell you that bo the dog is actually along for the rid
CNN
Dec 24, 2012 2:00am PST
consistent in your support of obama? is >> i can't even imagine thinking about what would happen to the supreme court if a republican were the president. i mean, citizens united is a horrible thing that people can spend and waste this amount of money on elections. think of all the people that could be benefit -- could benefit from that money. >> there have been two elections since i've been in america. there have been two elections where one party has had far more financial power than the other. one was here in california with meg whitman, and one was nationally. romney clearly had more money than obama for most of that campaign, and in both cases, the one with the most money lost. >> isn't that great? >> what does that tell you about the american people? >> the people are getting smarter. they're going, i don't like all this amount of money spent on this election. campaign finance reform is very important, and i hope somebody does something about it. you should have a given amount, equal amount, equal air time, and that's it. that idea of corporations being people. no, no, it's not --
CNN
Dec 29, 2012 3:00pm PST
and across-the-board spending cuts take effect. it forces members of congress and president obama to spend the last few days of 2012 on the job. we want to bring in cnn chief white house correspondent, jessica yelen, we all know they would rather celebrate new year's eve elsewhere. how did they get here? >> reporter: it is such a good question, you know, candy, this grid lock in washington creates the eye-rolling. but the fundamental question goes to the essential differences between the two parties about the role of government, should it be bigger or smaller? about whether we want lower taxes or more of a social safety net. so while we have seen the principles, the president, speaker boehner, and now senator mcconnell and reid trying to get involved in stages in the last few weeks, it has always broken down because they fundamentally disagree about the big ideas over the core of this debate. they're fighting between the two parties. and this could get resolved in a matter of days or weeks. but the big difference, the issues could really take months to work out. >> can it be resolved
CNN
Dec 25, 2012 4:00am PST
about it. have a look. president obama spending christmas eve on the links in honolulu with friends. while lawmakers relax at home for the holidays. right now the senate looks like it might be the only hope for a compromise deal. can a deal be struck? white house correspondent brianna is traveling with the first family in honolulu, hawaii. hey, brianna, good morning. >> good morning, to you, it's been many silent nights actually in washington these days. not because there's nobody there to sort of figure out what's going on with the fiscal cliff but also, because folks really aren't talking. we know the white house is talking to senate democrats as we look to the senate as he reconvene on thursday, really, the last-ditch effort to try to do something. as of yet, congressional democrats in the white house are not talking with congressional republicans. that's even at the staff level. what we're expecting now is that the senate majority leader harry reid will try to get something together to get republican support in both the house and the senate. but what they're looking at now is a
CNN
Dec 26, 2012 11:00am PST
na na na na ♪ and everybody go uh! >>> we told you last hour president obama is spending his last few hours in hawaii before returng early to washington. he's expected to arrive tomorrow, just five days ahead of the fiscal cliff, which includes an across the board tax hike that congress has tried but failed to undo. cnn's dana bash is with us from washington, our senior congressional correspondent. we spoke last hour. you told us that hour speaker john boehner was to convene this conference call to decide whether or not to call the house back into session. we know the senate is supposed to convene, but nothing can, of course, take place until the house is in session as well. do we know the results of that conference call? will boehner reconvene the house? >> reporter: i'm told by a source familiar with the call, which just happened within last hour, as you said, that no decision was made on the schedule or timing for the house. as we talked about an hour ago, the leaders in the house have promised the members that they won't be called back without 48 hours notice. so at this point
CNN
Dec 27, 2012 5:00pm PST
by president obama. the idea being to make it so painful not to cut a deal on taxes and spending that they would be forced to cut a deal on taxes and spending. except keeping them honest, they haven't done it. even though they knew the stakes, they knew the deadline, and both sides promised that this time things would be different. >> we need to return to fiscal responsibility. >> how is it that we're going to be able to do that? getting our fiscal house in order. >> the american people have spoken loudly. they want us to get our fiscal house in order. >> fiscal handcuffs on this congress that are sorely needed. >> washington is beginning to get its fiscal house in order. >> so they approve legislation that gave everyone nearly a year and a half to reach a long-term agreement on spending and taxes or face truly punishing consequences if they didn't. you'll remember at the time this was a really big deal. republicans had forced the issue by refusing to raise the debt ceiling without budget cuts. markets went haywire. gabby giffords even returned to washington from rehab from her a
CNN
Dec 28, 2012 1:00am PST
boehner and president obama each made important concessions. the president on entitlement spending. speaker boehner on upper income tax rates. speaker boehner, though, could not get conservative republicans to go along and seemed at a loss for what to do next. >> we can't cut our way to prosperity. we need real economic growth. many of us believe on both sides of the aisle on the fundamental reform of our tax code will help us get our economy moving faster and put more americans back to work. and more americans on the tax rolls. how we get there, god only knows. >> president obama, meantime, seemed to lose patience. no sign he's eager to go off the cliff, but he's also not ready, either, to concede more to get, in his words, what he'll get for free when the bush tax cuts expire tuesday morning. democratic lawmakers, though, are more willing to let that and everything else happen and both sides are still pointing fingers. take a look at senate minority leader mitch mcconnell and majority leader harry reid just this afternoon. >> you'll excuse me if i'm a little frustrated at the sit
CNN
Dec 30, 2012 9:00am PST
. >> president obama says slashing the deficit is a priority but so is more spend oggen certain things. we'll talk with two republican lawmakers about the president's second-term agenda next. to the best vacation spot on earth. (all) the gulf! it doesn't matter which of our great states folks visit. mississippi, alabama, louisiana or florida, they're gonna love it. shaul, your alabama hospitality is incredible. thanks, karen. love your mississippi outdoors. i vote for your florida beaches, dawn. bill, this louisiana seafood is delicious. we're having such a great year on the gulf, we've decided to put aside our rivalry. now is the perfect time to visit anyone of our states. the beaches and waters couldn't be more beautiful. take a boat ride, go fishing or just lay in the sun. we've got coastline to explore and wildlife to photograph. and there's world class dining with our world famous seafood. so for a great vacation this year, come to the gulf. its all fabulous but i give florida the edge. right after mississippi. you mean alabama. say louisiana or there's no dessert. this invitation
CNN
Dec 30, 2012 10:00am PST
obama appeared today on nbc's "meet the press" and said the cuts in spending need to be fairly distributed. >> what i'm not willing to do is to have the entire burden of deficit reduction rest on the shoulders of seniors making students pay a higher student loan rates, ruining our capacity to invest in things like basic research that help our economy grow. >> in news overseas the bodies of the dead are being carried away in syria today. at least 397 people were killed saturday. that is the deadliest day so far in the 21-month long civil war. another 52 died today. the joint u.n. arab league envoy said the situation is rapidly deteriorating but that a solution is still possible. >>> in massachusetts boston's mayor lifted a snow emergency a little earlier today. more than a foot of snow fell on several towns across that state overnight. crews are clearing tons of snow in the gillette stadium now preparing for the patriots/dolphins game this afternoon. >>> keep it here as the clock ticks to the fiscal cliff. we are live on capitol hill and at the white house. plus we'll be back wi
CNN
Dec 29, 2012 9:00am PST
deadline. today president obama called on lawmakers to meet their deadlines and responsibilities and forge a compromise to avoid tax hike and spending cuts from taking effect. lisa desjardins is live on capitol hill. what's going on right now? >> reporter: right now it's all behind closed doors, martin. what we just have learned in the last hour, in fact, what reporters have seen here, a surprise. house speaker john boehner was here at the capitol. we're still trying to sort out exactly why he was here, but he wasn't here for very long, it seems. he left in the last hour. also, we were able to see some of senator mcconnell's staffers. i was able to speak to one of them coming in and out of these kind of closed-door planning meetings. he said they've been here since 9:00 a.m. they plan to work all day and we may see his boss, senator mcconnell, later today. that shows us kind of where things stand. i wanted to break this down simply because there's so much that complicates the story. let's look really quickly at a graphic of the basics, what's happening right now. here's where we stan
CNN
Jan 1, 2013 3:00am PST
that will many republicans have been intrancei gent on taxes, the larger cause is that obama refuses to concede that social security, medicare, medicaid are driving future spending and deficits. so when republicans make concessions on taxes they get little in return." are you set up for more confrontatio confrontation. >> i think we are set up for more confrontatioconfrontation. on september 30th, when the clock strikes, we'll be in the same position. the president has made concessions, put on the table reforms to the entitlement program. last year, we were close to a grand bargain. $4 trillion deficit reduction that would include major entitlement reforms. the president has done what he needs to do that's unfair criticism. >> what is lacking, congressman? what is the problem? it is a popular con serb tuf and -- conservative reefrain. where is the impasse in terms of being able to say here are what our priorities are as a party. >> the reason there hasn't been a budget since 2009 because of the filibuster rule in the house. the house under both democratic and republic lay can leaders
CNN
Dec 26, 2012 10:00pm PST
people agree with that. >> alice, you say you believe president obama and democratic congressional leaders prefer to go over the cliff so they can raise taxes, cut defense spending and blame the gop but republicans have the option of locking in tax cuts for most americans right now. >> to further that note, sure, i think the president wants to do this because as you said he can increase taxes, continue cuts on the military and point the finger at the republicans. the truth of the matter is we need to have serious spending cuts. this is not an issue that will be resolved with taxing either way. we need to address serious spending issue swres in the country. the truth is boehner and house republicans pointed out the house issued legislation that would extend the current tax -- the bush-era tax cuts and erase military cuts. it is in the senate's hands and they need to act on that. something that came up this afternoon that is critical and a reminder in the entire scenario. secretary geithner issued a letter today warning the country we are going to hit the debt ceiling on new year's e
CNN
Dec 28, 2012 9:00am PST
that's going to put the brakes on those huge tax hikes and big spending cuts. it's going to affect all of us. president obama meeting with congressional leaders. that's going to happen this afternoon. i'm going to dream about that tiramisu. what a night, huh? but, um, can the test drive be over now? head back to the dealership? [ male announcer ] it's practically yours. but we still need your signature. volkswagen sign then drive is back. and it's never been easier to get a passat. that's the power of german engineering. get $0 down, $0 due at signing, $0 deposit, and $0 first month's payment on any new volkswagen. visit vwdealer.com today. >>> we are just four days away from the tax increases and the automatic spending cuts that are going to affect everybody's finances. the president has now called for congressional leaders to come to the white house in search of a last-minute deal to avoid the so-called fiscal cliff, right? the president and the vice president, they're going to meet with house speaker john boehner, minority leader nancy pelosi, senate majority harry reid and minority le
CNN
Dec 27, 2012 11:00am PST
a hefty down payment. >> number two. >> cnn projects that barack obama will be reelected president of the united states. >> the election. more than just about obama and romney, it was about socialism and capitalism and spending and cutting and what kind of role government should have in your life. >> number one is the fiscal cliff. lawmakers saw it coming and didn't bother to pay any attention to it until after the election. had they put politics aside and dealt with it earlier, who knows how strong the u.s. economy would be right now. >> and make sure you join me for the biggest stories of the year in crime, politic, money and the most scandalous stories. the top ten of 2012, 8:00 eastern. a teen battling a terminal illness uses lyrics instead of letters to say goodbyes. >> it's kind of me always being there for him. like if they keep singing that song throughout their life, it will be worth it. >> this teen's final wish, next. s that will make it drop over, and over again. ♪ from jammin' jerk chicken, to creamy gouda bisque. see what's new from campbell's. it's amazing what sou
CNN
Dec 28, 2012 2:00am PST
the one that happened in newtown. >>> president obama summoning congressional leaders to the white house, 3:00 this afternoon is the date for one final fiscal cliff showdown. just four days left to get this deal done or massive tax hikes and spending cuts will kick in. >>> the u.s. embassy clearing out of an african nation this morning. deteriorating security in the central african republic has forced the u.s. state department to temporarily suspend operations. there the u.s. ambassador, his diplomatic team and some private american citizens are out of the capital. the country's president has asked france and the united states for help to stop rebels that threaten rule. >>> it's not clear who will replace lisa jackson as the head of the environmental protection agency. jackson announced yesterday she's stepping down in january after the president's state of the union address. the epa created new standards for air pollution from coal power plants on her watch. >>> massachusetts congressman ed ma markey throwing his hat into the ring for kerry's senate seat. a special election would
CNN
Dec 25, 2012 6:00am PST
service and filling up with a special christmas dinner. >>> and president obama spending christmas with his family in hawaii and he played a rounds of golf with friends. it will be a short vacation because the president is expected back in washington later this week, just before the fiscal cliff deadline. >>> congress also home for the holidays and that means there's not a lot going on with the fiscal cliff negotiations. if no deal is reached in one week, the tax cuts enacted under president bush will expire and 1.2 trillion in spending cuts will automatically go into effect. if we do go over the fiscal cliff, how will it affect you from your paycheck to your retirement accounts? we're going to give you all the tips you need to protect yourself. here to do that this morning is ry ryan mac, president of opt middle school management. >> kudos for being able to pronounce that honolulu merry christmas saying. >> i don't think i can do it again. ahah! let's start with your paycheck as it applies to the fiscal cliff. if we go off the fiscal live how will mooirn and everybody's paycheck be aff
CNN
Dec 24, 2012 8:00am PST
increases and automatic spending cuts take effect. it may take up president obama's bare bones stopgap measure. that plan would block tax hikes for those earning $250,000. it would extend unemployment benefits to 2 million americans and put off spending cuts until the new year brings a new congress. our expert on all matters relating to the fiscal cliff is dana bash. she joins me now from washington. dana, great to see you again. tell me does even a band-aid approach work? >> it's going to be tough. this is all math. but it really has to do with the math with regard to votes. and democrats especially who i'm talking to in the senate which is probably where this will originate, the reality is that democrats don't hold a very big majority. her going to need to have a handful of republicans to cross party lines and vote with them on the whole concept of raising any taxes. especially what the president wants which is something that is raising taxes on all americans making more than $250,000. that's the senate. never mind the house, which of course, made clear to the house speaker t
CNN
Dec 30, 2012 6:00am PST
is doing nothing about the addiction that his administration has to spending. he's the spender in chief. >> i can't let the senator say what she said and not correct the record. those $700 billion, this wonderful savings went into obama care. the idea that you save money in medicare, it was saved as part of a big spending program. >> we cut overpayments to insurance companies. >> again, here in washington people say cut while things grow. >> slowing the growth? >> yes. it's sort of like satisfiesing you have a freeze, but it's water and when water freezes it expands. we've grown 100% in 12 years. the government. the government is sig bbigger, unless we do something it will get bigger and the deficit will get bigger even if we raise taxes on everybody. we still have a huge deficit. if we do not take on spending, then the cliff may not seem like a cliff but will be a downward slide to make us like greece. no lodnger a viable economic power. >> hang on. we'll continue this. we have to take a quick break. the fiscal cliff has the president sounding like new york yankees legend yoeg gi
CNN
Dec 25, 2012 2:00am PST
fiscal cliff, tax hikes for all americans and spending cuts that could pull the economy back into recession. ho, ho, ho. that makes everybody happy on christmas morning. president obama spent christmas eve playing a round of golf with friends and the democratic senate looks like the only hope for crushing the deadlock. our white house correspondent brianna keilar maybe with a little bit of news which is pathetic because it's talks within the democratic party, but at least they are talking. >> reporter: that's right. is it really news that democrats are talking? that's all the news we have to report as of today. i know i feel a little bit like a grinch reporting this, but the white house is in talks with senate democrats. that's not really surprising as we look to the senate to be the next -- really the next ones to act on this when they reconvene on the 27th. right now it's really up to senate majority leader harry reid to try to cobble something together that can get some republican support in the senate and the house to avoid the fiscal cliff. we are one week away from it, as yo
CNN
Dec 31, 2012 11:00am PST
spending under president bush and president obama. and i think republicans ask for less than they should have, we're going to have to ask for more in the way of spending cuts because once we do this very small, large increase on the wealthy, but small amount of revenue, we have to come back again. and i think the middle class has to understand that you can only get so much from the rich when they're already going to be paying over 55% on their ordinary income come next year, at least in my state of california. there is going to be a limit how much you can do. ultimately all taxes end up being paid disproportionately for the middle class. >> are you going to vote for this? >> i haven't seen the bill yet. >> would you vote for tax increases or tax cuts up to 450,000? >> i said aultimately i'll finda way to support something to bring to the american people. i think this bill will have too few cuts and will depend on a small amount of people that candidly don't represent enough money to bring a real fix to our trillion dollar deficit. >> thank you very much for joining us. appreciate
CNN
Dec 31, 2012 6:00am PST
over the edge if lawmakers can't seem to hammer out a deal or work something out. president obama says he is modestly optimistic that negotiations could prevent these huge tax hikes and spending cuts from kicking in. >> we don't yet see an agreement, and now the pressure is on congress to produce. if they don't, what i've said is that in the senate we should go ahead and introduce legislation that would make sure middle class taxes stay where they are, and there should be an up or down vote. everybody should have a right to vote on that. if republicans don't like it, they can vote no. >> brianna keilar, she's at the white house. brianna, they're saying they're going to come back to work in a couple of hours. a lot of people have been up a lot longer than that, up earlier, trying to figure out what's going on here. i understand you do have some news. potentially there's a new offer on the table. >> reporter: that's right. according to democratic sources, suzanne, they have gone up to $450,000 as the threshold for those income tax rates for where those bush-era tax cuts would expire
CNN
Dec 30, 2012 3:00pm PST
because president obama says it a lot. the average family will end up spending $2,000 more if the fiscal cliff is not averted. let me show you something. you can find out how it would impact you directly by using this. there's a lot of numbers you have to plug in to make sense of it. obviously it can't be exact, it can't be precise, it can't predict the future, but i want to show you some examples we have pulled out. let's go to the graphic here that has a few of the examples we're showing you here. it would take, for example, this scenario, married with no children under the age of 65. if a couple in that instance is making about $57,000 a year, then according to the calculations, that couple would end up spending $2,262 more on taxes. that couple is high income earning, $106,000 for the income between the two of them, you're looking at more than $4,200 extra in taxes. a good example there of what we're looking at. i want to show you another example. there's something that might surprise you in the middle of this next one. i want to go to these numbers fast. if this is a couple t
CNN
Dec 31, 2012 2:00am PST
. as long as they had a hefty downpayment. >>> number two. >> cnn projects that barack obama will be re-elected president of the united states. >> the election. more than just about obama and romney. it was about socialism and capitalism. about spending and cutting. about what kind of role government should have in your life. >>> number one is the fiscal cliff. lawmakers saw it coming, but didn't bother to pay any attention to it until after the election. had they put politics aside and dealt with it earlier, who knows how strong the u.s. economy would be right now. >>> next, scandal. can you guess who made our list because of bad behavior? new prilosec otc wildberry is the same frequent heartburn treatment as prilosec otc. now with a fancy coating that gives you a burst of wildberry flavor. now why make a flavored heartburn pill? because this is america. and we don't just make things you want, we make things you didn't even know you wanted. like a spoon fork. spray cheese. and jeans made out of sweatpants. so grab yourself some new prilosec otc wildberry. [ male announcer ] one pill
CNN
Dec 27, 2012 1:00pm PST
years. as long as they had a hefty down payment. >> number two. cnn projects that barack obama will be re-elected president of the united states. >> the election. more than just about obama and romney, it was about socialism and capitalism, about spending and cutting, about what kind of role government should have in your life. >> number one is the fiscal cliff. lawmakers saw it coming, but didn't bother to pay any attention to it, until after the election. had they put politics aside and dealt with it earlier, who knows how strong the u.s. economy would be right now. >> don't miss our "top 10 of 2012" special. cnn revisits the biggest stories of the year in money, crime, politics, and even scandals. that's cnn, sunday night, 8:00 eastern. >>> happening now, members of congress are called back to work with time running out to avoid the fiscal cliff. we'll meet one man who's reaching into his own pockets to help america ease its enormous debt. and we're learning how north korea deceived the world, to launch a rocket with the ability to strike the u.s. wolf blitzer is off. i'm candy c
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